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All college notes Revenue Management NHL Stenden 2023/2024 with visuals $5.90
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All college notes Revenue Management NHL Stenden 2023/2024 with visuals
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  • Course
  • Revenue management
  • Institution
  • Stenden Hogeschool
  • Book
  • Revenue management: maximizing revenue in hospitality operations

This are all colleges notes on Revenue Management from Stenden year 2023/2024. Written in English and easy to understand with visuals.

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  • April 29, 2024
  • 22
  • 2023/2024
  • Class notes
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  • All classes

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  • notes revenue management
  • revenue management stenden
  • colleges revenue management

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  • Revenue Management :Maximizing Revenue in Hospitality Operations
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  • Stenden Hogeschool
  • revenue management
  • Revenue management
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lOMoARcPSD|2668334

, lOMoARcPSD|2668334




HC Revenue management 1: the basis

Conditions for revenue management:
- perishable products/service
- high fixed costs
- low variable costs
- limited and fixed inventory
- time criterial
- highly segmented

Selling….
At the right price:
-price elasticity: how much does price influence the demand?
-cost and value based pricing
-set various prices for various segments
-customer centric approach: place customers in the middle. Focus on their
needs&wants

The right product:
-segmenting should lead to differentiating
-implementing price conditions: price fencing
-price fencing is neccessary to prevent customers from buying the cheaper product

At the right time:
-displacement analysis:
- which customer will you except when one room left? Could you have
made more revenue by accepting different guests? What is the
optimal business mix?
-forecasting
-supply and demand: when do we offer what price & product?

To the right customer:
-segmenting
-optimal business mix

In the right place:
-Inventory management,

PUP WS Revenue

Management 1

Questions from sheet:
1. What elements should an organisation look at to determine a price? What
tools
exist to deterime a ‘right’ price?
Elements: cost/value based pricing, competition,
forecasting Tools: bench marking, swot analysis
2. Why is it important for an organisation to understand customer worith
and customer value?
To analyze the optimal business mix, to offer the right price.

, lOMoARcPSD|2668334




3. How can revenue managers prevent accepting the ‘wrong’ customers?
What analytical tool does an organisation use to asses customer worth?

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